Keybank National Association OH Has $81.62 Million Position in Meta Platforms, Inc. $META

Keybank National Association OH raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 6.6% during the first quarter, Holdings Channel.com reports. The fund owned 142,669 shares of the social networking company’s stock after purchasing an additional 8,871 shares during the period. Keybank National Association OH’s holdings in Meta Platforms were worth $81,625,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. First National Bank Sioux Falls boosted its stake in Meta Platforms by 0.7% during the 4th quarter. First National Bank Sioux Falls now owns 2,001 shares of the social networking company’s stock worth $1,321,000 after acquiring an additional 14 shares during the last quarter. Levin Capital Strategies L.P. increased its stake in Meta Platforms by 1.4% in the fourth quarter. Levin Capital Strategies L.P. now owns 984 shares of the social networking company’s stock valued at $649,000 after purchasing an additional 14 shares in the last quarter. Vista Capital Partners Inc. increased its stake in Meta Platforms by 1.3% in the second quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock valued at $794,000 after purchasing an additional 14 shares in the last quarter. Arcataur Capital Management LLC raised its holdings in Meta Platforms by 0.9% in the fourth quarter. Arcataur Capital Management LLC now owns 1,736 shares of the social networking company’s stock worth $1,146,000 after purchasing an additional 15 shares during the period. Finally, Acorn Creek Capital LLC raised its holdings in Meta Platforms by 0.7% in the fourth quarter. Acorn Creek Capital LLC now owns 2,118 shares of the social networking company’s stock worth $1,398,000 after purchasing an additional 15 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 140 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $600.00, for a total transaction of $84,000.00. Following the sale, the chief operating officer owned 12,846 shares in the company, valued at approximately $7,707,600. This represents a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total value of $1,268,023.68. Following the sale, the insider owned 1,118 shares in the company, valued at approximately $681,890.56. This represents a 65.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 39,513 shares of company stock valued at $24,419,874. 13.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on META shares. Mizuho decreased their price target on shares of Meta Platforms from $850.00 to $835.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Barclays raised their price objective on Meta Platforms from $800.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Stifel Nicolaus decreased their target price on Meta Platforms from $805.00 to $780.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Wedbush upgraded Meta Platforms from an “outperform” rating to a “neutral” rating in a report on Tuesday, June 2nd. Finally, UBS Group lowered Meta Platforms from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $840.64.

Key Headlines Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta launched Muse Image, a new AI image-generation tool inside Meta AI for consumers and businesses. The rollout could help increase engagement across Instagram, WhatsApp and other apps, while giving advertisers and creators a new reason to use Meta’s ecosystem. Meta expands generative AI tools with Muse Image rollout
• Positive Sentiment: Erste Group Bank upgraded Meta from hold to buy, adding to bullish sentiment around the stock. Meta Platforms (NASDAQ:META) Raised to “Buy” at Erste Group Bank
• Positive Sentiment: Truist Securities also reiterated a Buy view and an $840 price target, reinforcing the case that Wall Street still sees meaningful upside in META.

Meta Platforms Price Performance

META stock opened at $615.58 on Wednesday. The stock has a 50-day moving average price of $600.41 and a two-hundred day moving average price of $627.42. The stock has a market cap of $1.56 trillion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.06 and a beta of 1.25. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $796.25.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating analysts’ consensus estimates of $6.67 by $3.77. The company had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The company’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same period in the previous year, the company posted $6.43 earnings per share. Equities analysts forecast that Meta Platforms, Inc. will post 29.46 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 15th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, June 15th. Meta Platforms’s payout ratio is presently 7.63%.

Meta Platforms Profile

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.